Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Recommendation of “Hold” from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $10.50.

A number of analysts have recently weighed in on the company. Piper Sandler cut their price objective on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Wells Fargo & Company upped their price target on Myriad Genetics from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Cowen reaffirmed a “hold” rating on shares of Myriad Genetics in a research report on Tuesday, November 4th. TD Cowen boosted their price objective on Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Finally, UBS Group upped their target price on shares of Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Myriad Genetics by 301.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,304,163 shares of the company’s stock worth $9,429,000 after purchasing an additional 979,133 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Myriad Genetics by 93.3% in the 2nd quarter. Inspire Investing LLC now owns 84,520 shares of the company’s stock valued at $449,000 after purchasing an additional 40,793 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Myriad Genetics by 19.5% in the 2nd quarter. Nordea Investment Management AB now owns 402,910 shares of the company’s stock valued at $2,152,000 after purchasing an additional 65,781 shares during the period. Prudential Financial Inc. grew its stake in Myriad Genetics by 95.1% during the 2nd quarter. Prudential Financial Inc. now owns 342,684 shares of the company’s stock worth $1,820,000 after buying an additional 167,023 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in Myriad Genetics by 20.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,294,822 shares of the company’s stock worth $6,876,000 after buying an additional 219,607 shares during the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Stock Up 0.3%

Shares of NASDAQ:MYGN opened at $6.58 on Friday. The firm has a market capitalization of $613.35 million, a PE ratio of -1.52 and a beta of 1.81. Myriad Genetics has a 1 year low of $3.76 and a 1 year high of $15.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 2.12. The firm’s 50-day moving average is $6.82 and its two-hundred day moving average is $6.54.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share for the quarter. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.The business had revenue of $156.40 million for the quarter. Analysts predict that Myriad Genetics will post -0.3 EPS for the current year.

Myriad Genetics Company Profile

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.